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TD and RBC increase five-year mortgage rates by 0.25%.
TD Canada Trust and the Royal Bank of Canada both announced on Tuesday that they will increase certain fixed-term mortgage rates by up to one-quarter of a percentage point, effective Wednesday.
Both banks will now offer five-year mortgages at a rate of 5.44%. Three- and four-year mortgage rates will also increase by one-quarter of a percentage point, while one-and two-year rates will go up by 0.15 of a percentage point.
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